Coinbase CEO Believes Stopping ChatGPT Development is a Bad Idea

Coinbase CEO Believes Stopping ChatGPT Development is a Bad Idea
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ChatGPT has taken the world by storm, mainly because of its mind-blowing capabilities and ease of use. Despite a great percentage of people displaying a warm opinion towards the AI tool, some voices in the tech industry have voiced against its active use and constant updates.

However, the CEO of Coinbase, Brain Armstrong, made it clear that he is against the move. He took it to Twitter and expressed how he believes that stopping ChatGPT development is probably a ‘bad idea.’ The comments of the CEO followed shortly after the publication of an open letter that called for a six-month moratorium regarding the development of an AI much more powerful than the current GPT-4.

The letter stated,

“Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable. Therefore, we call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.”

The letter currently has more than 1,850 signatures, including those of Elon Musk, and the CEO of Apple, Steve Wozniak. These people argue that AI systems equalling the intelligence levels of humans might eventually pose great risks to humanity and society.

artificial intelligence

The letter also states how the main focus of AI development should be on making current systems increasingly accurate, safe, transparent, robust, and more. However, the CEO of Coinbase stated that fear should not be justified as a factor to stop progress. Similarly, Coinbase recently shifted to AI in hopes of understanding how accurately ChatGPT could perform a token security review. ChatGPT-4 was also reported to have the ability to audit smart contracts. Thus, there is a close link between AI and crypto space. 

ChatGPT Gets Accused of Violating Federal Trade Law

In other news, the Centre of AI and Digital Policy filed a complaint with the US Federal Trade Commission against OpenAI, the creator of ChatGPT. The complaint alleges the firm actively violating section 5 of the FTC Acts which mainly targets unfair and deceptive practices. The Centre’s founder stated that the main responsibility of the FTC revolves around investigating and prohibiting unfair practices. 

The FTC updated the act just last month and included language directed at developers of AI programs to refrain from exaggerating capabilities and making incorrect performance claims. Similarly, the FTC also urged developers to keep the potential risks in mind before they inject their products into the market. In case something doesn’t go according to plan, blaming the third party for the technology would be useless.


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